posted on October 4, 2000 04:24:26 PM new
Here's an interesting tidbit from the X.com finance web site:
"Thank you for your interest in X.com Online Banking. At this time, X.com Online Banking is not accepting new accounts. Please consider X.com's PayPal service for your online payment needs (PayPal is not an FDIC-insured service)."
posted on October 4, 2000 06:01:38 PM new
Hmmm...sounds to me like neither Paypal or X.com were showing the profits they expected, so they are concentrating on one part of the business.
Too bad they picked the one that isn't Federally-insured and has few actual laws and regulations to follow.
posted on October 4, 2000 08:28:53 PM new
This all keeps looking fishier and fishier. When was the last time you heard of a bank refusing to accept new depositors?
posted on October 13, 2000 04:37:34 PM new
Looks like X.com was in such a rush to stop opening checking accounts that they forgot to tell AuctionWatch. Check out the following AuctionWatch page promoting X.com Bank (not Paypal) as a free payment service, and encouraging users to open a checking account there.
posted on October 14, 2000 02:06:24 PM new
booksbooksbooks: "Looks like X.com was in such a rush to stop opening checking accounts that they forgot to tell AuctionWatch. Check out the following AuctionWatch page promoting X.com Bank (not Paypal) as a free payment service, and encouraging users to open a checking account there."
When you log into the AuctionWatch X.com site the message is there saying they are no longer taking new accounts.....so please try PayPal. Sounds like a bait and switch
scam to me!
posted on October 14, 2000 07:43:49 PM new
Interesting, I just ran across this on x.com:
Who Provides These Services?
X.com Corporation develops the technology and manages the website through which customers are able to access their financial resources, transfer money, and engage in financial transactions. X.com Corporation has entered into an agreement with Community Bankshares, Inc., to purchase its subsidiary, First Western National Bank (FWNB), subject to regulatory approvals. Until such approvals are obtained, FWNB is providing the banking services available through X.com on a contractual basis.
With all the shenanigans they have been pulling with PayPal over the last few months, I wonder if they may have had a problem with the "regulatory approvals".
posted on October 14, 2000 08:13:23 PM new
In the prospectus for X.com Mutual Funds, they refer to X.com as the parent company for First Western National Bank, suggesting that the acquisition went through.
